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Problem 1 4 - 1 1 ( Static ) [ LO 1 4 - 3 , 1 4 - 4 , 1 4 - 5
Problem StaticLO
Terrell, an unmarried individual, has the following income items:
Schedule C net profit $
Salary
NOL carryforward deduction
Interest income
Terrells selfemployment tax was $ Terrell had $ in itemized deductions and one dependent child age who lives with Terrell. Terrells Schedule C net business profit is qualified business income nonservice
Required:
Compute Terrells income tax before credits Assume the taxable year is Use Individual Tax Rate Schedules and Standard Deduction Table.
Note: Round your intermediate calculations and final answers to the nearest whole dollar amount.
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